Healthcare industry is subject to extensive regulation at both the federal and the state level. There are various projects trying to benefit the healthcare segment via decentralized platforms conducting ICOs.
Now, only the Care.Wallet 1.0 is ready. It is not possible to test the app now, the team only gives a short demo video of the product.
The team does not give an estimation of the size of fees collected. The adoption of the business model is subject to heavy regulations from the state.
The amount of tokens reserved for the team (18%, 180000000 CAN) is a relatively large number. The existence of two different digital currencies may confuse some costumers. The project post-money valuation, which is 100M USD, is way above the median number for comparable projects.
The project team is spread around 3 locations which may cause discoordinations and slower pace of project development. It is not clear who is responsible for blockchain technology development competencies in the team. The web development TL has degrees in economics and law, though he had some previous programming experience.
Solve.Care is entering the market of healthcare services. The healthcare expenditures as a % of GDP in the US is growing for the last 18 years and moved from 12% to 16%. Now, the annual cost of healthcare in the US is more than 3200B USD. This figure is growing by 50B-70B USD annually. National health spending is projected to grow at an average rate of 5.6 percent per year for 2016-25. This industry is also subject to extensive regulation at both the federal and the state level. There are various projects trying to benefit the healthcare segment via decentralized platforms conducting ICOs. These projects are Coinhealth, Etheai, FarmaTrust, Well, MedAi network, MedicalChain to name a few. MedicalChain received 24M USD during its tokensale ended in February 2018. The variety of projects in this field may take public attention from Solve.Care.
Solve.Care creates a decentralized and distributed platform for administration of healthcare and benefits programs. The platform will consist of 5 key elements: -Care.Wallet (personal healthcare wallet and application container), -Care.Protocol (the underlying fabric of the platform and handles all communication and synchronization between entities, wallets, cards, coins and client systems), -Care.Coin (healthcare payment currency), -Care.Cards ( portable applications that reside in the Care.Wallet. Care.Cards are equivalent to apps in an app store that can be downloaded from the Care.Marketplace), and -Care.Vault (data management module of Care.Protocol) that offer a new approach to administering benefits and keeping all parties in sync without the need for a centralized record keeper. Solve.Care platform will also use Smart contracts to implement business logic specific to Care.Protocol pairs. Now, only the Care.Wallet 1.0 is ready; the expansion of the platform 3.0, Patient – Provider direct scheduling and payments, community extensible Care.Protocol is scheduled for Q4 2018. The product development started around Q1 2017, and by Q1 2018 Solve.Care signed first commercial customer with more than 250 000 clients. It is not possible to test the app now, the team only gives a short demo video of the product. The Github activity started around November 2017.
The company highlights four main channels of revenue for Solve.Care. They are clients revenue, subscribers revenue, marketplace revenue, partners revenue. The clients will pay platform fees for license, subscriptions and service fees for configuration, extension and integration. The subscribers will pay subscription fees for wallet and cards and transaction fees for payments and other fee based actions. The marketplace revenue will come from community offerings on the marketplace and will be shared by the publisher and Solve.Care Foundation. The partners will integrate some of the Solve.Care systems and will pay for these integrations. The company gives a good description of the revenue channels. However, the fee size is not clear and it is unclear if it will be enough for the platform maintenance.
The team gives an approximate expenses distribution. Solve.Care plans to spend 31% on the platform development, Subscribers and acquisitions - 25%, Community and partner ecosystem - 16%, Sales and marketing - 12%, General and administrative - 9%, Legal and compliance - 3%, Infrastructure and project management - 2%, Token Sale expenses - 2%. All tokens reserved for team have a vesting schedule of 30 months with 20% unfreezing every 6 months. Vesting schedule begins from the date Token sale completion. Apart from issuing CAN Token, the team also plans to launch Care.Coins that will be used only for payments of healthcare services between members of a care administration network. This digital currency will not vary in value and is backed by reserves of CAN Token. Care.Coin cannot be traded on crypto-exchanges and is not limited in supply. For further details on two coins differences refer to page 35 of Solve.Care WP. The existence of two different digital currencies may confuse some costumers. The project post-money valuation, which is 100M USD, is way above the median number for comparable projects. Anyone worldwide can buy tokens, US entities must be accredited.
Solve.Care team consists of 50+ people including administrative staff. In early 2017, Solve.Care acquired Ukrsoft based in Kiev Ukraine. Now the companuy operates out of three locations in Tallinn, Kiev and Fort Lauderdale. 70% of the 50+ people team located in Kiev, the rest is located in Tallin and USA. The core team consists of 8 people. Most of them are experienced professionals in relevant fields, the team is also equipped with health care lobbyist. The web development TL has degrees in economics and law, though he had some previous programming experience. It is not clear who is responsible for blockchain technology development competencies in the team.
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